Bitwise raised its Bitcoin price target for 2036 from $1.3 million to $1.6 million despite a year marked by falling prices, weaker investor sentiment and an uncertain macroeconomic environment. Its projected compound annual growth rate for Bitcoin increased from 28.3% to 34.3% after the asset fell more than 50% between October 2025 and June 2026, briefly trading below $59,000. The revision reflects a larger addressable store-of-value market, estimated at $110 trillion rather than $91 trillion, and an institutional investment market that grew from $216 trillion to $303 trillion. Bitwise also points to growing interest from wealth management platforms, central banks and sovereign wealth funds, as well as Bitcoin’s store-of-value market share rising from less than 1% a decade ago to more than 5% today. The firm did not increase its market-share assumptions and acknowledges that gold remains the main destination for store-of-value flows, slower ETF inflows are limiting momentum and Bitcoin’s rising correlation with gold may reduce its distinct appeal.
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